Advertisement

HindustanTimes Sat,19 Apr 2014

Sensex falls for 7th day as political worries rise

HT Correspondent, Hindustan Times  Mumbai, March 25, 2013
First Published: 09:45 IST(25/3/2013) | Last Updated: 23:26 IST(25/3/2013)

After rising 215 points in early trade on positive global cues following a bailout deal for Cyprus, the benchmark BSE Sensex on Monday reversed gains on worries over domestic political developments and ended down 54 points, or 0.29%, at 18,681.42, extending its losses to the seventh day.

Advertisement

The broader NSE Nifty was 0.31% down to 5,634.

Bearish sentiments have dominated markets for a week following the DMK's withdrawal of support to the Union government and Cyprus crisis.

"We had a case for bounce back today. However, political uncertainty dampened the sentiments," said Sunil Jain, vice-president, Nirmal Bang securities. "If political crisis escalates market may further go down."

Most of the Asian markets ended positive on Monday on Cyprus clinching a €10 billion bailout package. The Sensex rose 200 points in the opening session. However, investors feel that it sharply fell when Samajwadi Party supremo Mulayam Singh Yadav expressed his interest in a 'Third Front' led by regional parties in a public meeting.

BSE capital goods index suffered the most losing 1.44% while auto and metal indices lost 0.78% and 0.71%.

Advertisement
more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant

Finnish handset maker Nokia, struggling to shepherd its Chennai plant into its agreement to be bought by US software giant Microsoft amid tax disputes in India, has got some success with 736 of its trainees accepting the voluntary separation scheme.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved